Ethereum’s price has failed to break above the key $4,000 level and has been experiencing bearish price action since then. Investors are now worried that ETH might be reversing its overall price trajectory. Technical Analysis By Edris Derakhshi (TradingRage) The Daily Chart The daily chart shows that Ethereum’s price has formed a clear double-top pattern at the $4,000 resistance level while getting rejected twice. The $3,500 level has also been broken to the downside, and the market has failed to reclaim it following multiple unsuccessful attempts. At the current stage, a drop lower toward the $3,000 support zone and the 200-day moving average, located around the same level, looks probable. Price’s reaction to this key level could determine the mid-term fate of the market. The 4-Hour Chart Looking at the 4-hour timeframe, a drop toward the $3,000 level seems less probable, as the market is seemingly climbing toward the $3,500 level to test it again. With the RSI also on the verge of rising above the %50 threshold, the market is demonstrating bullish momentum in this timeframe. This can indicate that a breakout above the $3,500 level is more probable this time. This scenario is of course, valid if the price is able to reach the level soon. On-Chain Analysis By Edris Derakhshi (TradingRage) Ethereum Exchange Reserve While Ethereum’s price has been dropping after getting rejected by the $4,000 resistance level, looking at on-chain network activity provides an interesting clue to investors’ behaviour. This chart presents the Ethereum exchange reserve metric, which measures the amount of ETH that is held in trading platforms. This value is also used as a proxy for supply, as the coins held in exchanges can be sold almost any time. As the chart presents, the exchange reserve metric has been gradually rising over the past few months, indicating that the investors are selling their coins, likely for a profit, as the price reaches the $4,000 level. This has been one of the key contributing factors to the current halt in Ethereum’s bullish run. Meanwhile, during the recent price correction, the exchange reserve metric has been dropping and is currently declining below its 100-day moving average. This can indicate a potential accumulation by market participants, that could soon lead to a rally higher for ETH. The post Ethereum Price Analysis: ETH Could Plummet to $3K After Losing These Support Levels appeared first on CryptoPotato .
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Bitget Expands User Opportunities with PoolX Lock-to-Get Airdrops
Victoria, Seychelles, December 28th, 2024, Chainwire Bitget , the leading cryptocurrency exchange and Web3 company has announced the introduction of PoolX , an advanced lock-to-get airdrop platform designed to provide users with hourly token rewards. PoolX allows participants to lock specific coins and earn popular token airdrops based on their contributions to designated pools. The latest PoolX activity enables users to lock Bitcoin (BTC) and Ethereum (ETH) to receive BGB token airdrops. This activity, running from December 27, 2024, 10:00 UTC, to December 31, 2024, 10:00 UTC, features a total reward pool of 15,000 BGB tokens. Token distribution is calculated hourly based on the proportion of an individual’s locked amount relative to the total locked amount in the pool. The BTC locking pool offers a total of 7,500 BGB for distribution, with a minimum locking amount of 0.0001 BTC and a maximum of 2 BTC. Similarly, the ETH locking pool provides 7,500 BGB in rewards, with a minimum locking amount of 0.002 ETH and a maximum of 15 ETH. Users’ individual rewards are determined by their locked amount in relation to the total locked amount in each pool. Participants must complete identity verification to be eligible. Sub-accounts, institutional users, and market makers are not permitted to join this promotion. Bitget reserves the right to disqualify users who engage in fraudulent activities or violate the promotion`s terms and conditions. The company may revise or cancel the promotion at its sole discretion and without prior notice. About Bitget Established in 2018, Bitget is the world`s leading cryptocurrency exchange and Web3 company. Serving over 45 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price , Ethereum price , and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more. Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World`s Top Football League, LALIGA , in EASTERN, SEA and LATAM market, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency. For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet For media inquiries, please contact: media@bitget.com Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to the Terms of Use . Contact Public Relations Media Bitget media@bitget.com Crypto Potato
Toncoin, Chainlink Dip While Traders Bet Big on Lunex Token’s Explosive Potential
The post Toncoin, Chainlink Dip While Traders Bet Big on Lunex Token’s Explosive Potential appeared first on Coinpedia Fintech News Major cryptocurrencies like Toncoin and Chainlink have been going through a much-needed correction. The pullback may be scary to some, but that’s just what happens in the crypto market. As these coins go through hard times, savvy investors are turning to Lunex Network and its trailblazing presale. This project is turning heads and has an explosive potential that would see it rise to unprecedented levels. That is why many have dubbed it the fastest growing crypto token today. Lunex Network Presale Keeps Soaring Higher Lunex Network is a brand new presale that is shaking things up pretty well right now. Even though it debuted just a couple of months ago, it has raised over $5.5 million from investors. In addition to that, 2.5 trillion tokens have been sold in the presale, since everyone wants a piece of it. The major reason investors are going in on Lunex is its potential for accelerated growth. The protocol champions crypto swaps across multiple blockchain networks, which is a groundbreaking feature in the DEX arena. To top that, Lunex favors community growth and development. This is evident in its staking rewards and revenue sharing strategies. Lunex tokens are purchased from the open market and a portion of this is shared amongst LNEX holders as staking rewards. In this manner, LNEX rewards loyal holders and simultaneously fosters a strong community. These features combine to paint a stellar future for the project. The Lunex presale is available for $0.0048 but it is billed to appreciate by 800% before the presale ends. This is why several experts have called it the fastest growing crypto of the moment. Will Chainlink Price Weather The Crypto Storm? Chainlink is a decentralized oracle network that is very important for the efficient execution of smart contracts. But this has not spared Chainlink price from the latest market correction. LINK has shed just about 15% from its peak in early December and now consolidates around $242. Despite the current slump, analysts still have a positive outlook for Chainlink. Technical indicators continue to show bullish LINK predictions. Given Chainlink’s importance to smart contracts, there’s a good chance of a LINK resurgence. Toncoin Slides Dangerously After November Boom TON is the native token of the Telegram Open Network (TON), and its November rally has drawn genuine interest from investors. But since the last market correction, Toncoin has shed significant portions of its value, and TON holders are starting to get concerned. To put things into perspective, TON fell by as much as 15% over the last couple of weeks and it has been on a downward trend since the market correction. Despite the temporary setback, experts maintain conservative optimism about TON’s future. But it’s better to take this optimism with a pinch of salt. Join the fastest growing crypto train Owing to their struggles after the last market correction, investors aren’t too keen on TON and Chainlink. This dip didn’t affect Lunex Network since it’s a crypto presale, and that is why it is a highly recommended investment option. Lunex Network is starting a revolutionary movement, and it’s only a matter of time before it goes viral. Joining the Lunex train before it hits the limelight could fetch investors profits in excess of 10,000%. No one should miss out on it. You can find more information about Lunex Network (LNEX) here: Website: https://lunexnetwork.com Socials: https://linktr.ee/lunexnetwork Crypto Potato